First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Large Increase in Short Interest

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 77,700 shares, an increase of 82.4% from the June 30th total of 42,600 shares. Based on an average daily trading volume, of 127,300 shares, the short-interest ratio is currently 0.6 days.

First Trust NASDAQ BuyWrite Income ETF Stock Up 1.2 %

FTQI traded up $0.23 during midday trading on Friday, reaching $19.97. 179,259 shares of the company’s stock were exchanged, compared to its average volume of 127,889. The firm has a market capitalization of $384.42 million, a price-to-earnings ratio of 29.15 and a beta of 0.52. First Trust NASDAQ BuyWrite Income ETF has a one year low of $18.15 and a one year high of $20.93. The business has a 50-day simple moving average of $20.43 and a two-hundred day simple moving average of $20.31.

First Trust NASDAQ BuyWrite Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd will be paid a dividend of $0.203 per share. This represents a $2.44 dividend on an annualized basis and a yield of 12.20%. The ex-dividend date is Tuesday, July 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTQI. CWM LLC lifted its stake in First Trust NASDAQ BuyWrite Income ETF by 124.9% during the fourth quarter. CWM LLC now owns 22,724 shares of the company’s stock worth $450,000 after purchasing an additional 12,618 shares during the period. Capital Investment Advisory Services LLC lifted its stake in First Trust NASDAQ BuyWrite Income ETF by 64.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 18,584 shares of the company’s stock worth $368,000 after purchasing an additional 7,274 shares during the period. Significant Wealth Partners LLC bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at approximately $2,104,000. Truist Financial Corp bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at approximately $435,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF in the fourth quarter valued at approximately $263,000.

First Trust NASDAQ BuyWrite Income ETF Company Profile

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.